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Treating your ETF trading like a business is important to your bottom line in trading. Despite what many say about "letting winners run", it's also important to exit partial ETF positions with trailing stops, especially in choppy market conditions.
It can be easy enough, once you understand the techniques that veteran traders use. For example, closing half the position at a near-term extended move before a 10:30am morning pivot (or prior day's low, for swing traders) is one tactic you'll be learning about. Watch the video below for more.
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Taking ETF Profits Early and Often — Your Trading Plan
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Many home retail traders are exceptionally "sloppy" when it comes to trade management. Professional traders, on the other hand, are quite precise and adept and exiting positions to book small profits quickly, rather than wait for costly reversals that drain profits from winning trades.
When looking at ETF trades, it's helpful to identify "target zones" as well as trailing stop areas to nimbly use for exiting open winning positions (in addition to using trailing stops.) It's also helpful to look for potential reversal signals, such as candle hammers and shooting stars.
Good trading exits often feel "early", as though they're premature... and that phenomenon happens for a reason. Once a trade feels like it's "late to exit", other traders feel the same way, closing positions and quickly driving price back into it's trading range.
As an experienced trader, your goal should be to deftly pluck moderate or small wins from the market routinely, consistently, with unerring discipline and quick decision-making skills.
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Once you're looking at a chart to help decide whether or not to enter a trade, it's important to be "in sync" with the market. This simply means understanding where the breakout and pivot times and patterns are that the market is most likely to follow during that trading day.
Many new traders are far too late, or too early in their entries, never quite finding the "sweet spot" that nails a solid entry. It takes years of practice to learn, and is never truly mastered.
The best tactic as always is to simply start by relying on price action, and scaling into successful entries before it's too late to capture a "next move" for a continuation breakout. See the video below for examples of timing patterns that are helpful to be aware of, whenever you put on your next ETF trade.
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Watch as our trader reveals how to use advanced exit strategies to close out winning trades, before reversals take back gains that are made. Cost: FREE |
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Disclaimer: Site visitors are advised that active trading is a high-risk, speculative activity and that generally expected customer results are that all traders will incur trading losses, regardless of the training they may receive and will not become profitable. No profitability nor performance claims of any kind are being made. We are not an investment advisor, financial planner or registered broker. We provide educational services for active traders. You accept all liability resulting from your trading decisions. No offers to buy nor sell any security are being made on this site. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site and no overall nor specific performance nor profitability claims of any kind are being made, nor should be inferred. Traders agree to not make actual trades based on the information contained herein, since all content is published for educational use only, and is not to be construed as trading recommendations nor advice. No individual advice nor trading management services of any kind are provided, therefore no member nor subscriber should assume that their participation in the services provided herein serves, nor is suitable as, a substitute for ongoing individual personalized investment advice from an investment professional chosen by the member/subscriber. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
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